NEW JERSEY CITY UNIVERSITY EMPLOYEE PLEADS GUILTY
TO STEALING, LAUNDERING OVER $500,000 FROM
STUDENT GOVERNMENT ORGANIZATION

NEWARK, N.J. – The suspended office manager for the New Jersey City University
("NJCU") Student Government Organization ("SGO"), pleaded guilty today to stealing over
$500,000 in federally-subsidized funds from the university and conspiring to launder the
proceeds of the theft, United States Attorney Paul J. Fishman announced.

Shaunette R. Moody, 48, of Jersey City, N.J., pleaded guilty to an Information charging
her with one count of money laundering conspiracy and one count of theft from an organization
receiving federal benefits. She entered her guilty plea before United States District Judge
William J. Martini in Newark federal court.

According to documents filed in the case and statements made during the guilty plea
proceeding:

Moody admitted that she agreed with others to steal funds from NJCU by writing
unauthorized checks drawn on the NJCU SGO bank account. In total, from January 4, 2007,
through July 21, 2010, she and her husband Alexander Moody, 51, also of Jersey City, stole
approximately 275 checks that were then fraudulently signed and made payable to themselves
and co-conspirators Arsenio Willey, Curtis Shearer, Kimberly Jackson, and others.

Shaunette Moody acknowledged that they agreed to negotiate the stolen checks, for
approximately $502,117, in a manner intended to disguise the nature, source, and control of the
stolen funds. She and her co-conspirators used the stolen money to purchase goods and services
for their own benefit, including entertainment and gambling in Atlantic City, N.J.

The Moodys were originally charged by Indictment on September 2, 2010. Willey,
Shearer, and Jackson were charged by Complaint with conspiracy to steal federally-subsidized
funds on September 7, 2010. The charges against Alexander Moody, Willey, Shearer, and
Jackson remain pending.

The money laundering conspiracy charge to which Shaunette Moody pleaded guilty
carries a maximum potential penalty of 20 years in prison and a fine of twice the value of the
laundered property. The theft charge to which the she pleaded guilty carries a maximum of 10
years in prison and a fine of twice the value of the gain from the offense. In addition, she agreed
to pay restitution to NJCU, and to resign from her position and never seek future employment
with NJCU. Sentencing for the defendant is scheduled for March 24, 2011.

U.S. Attorney Fishman credited special agents of IRS – Criminal Investigation, under the
direction of Special Agent in Charge Victor W. Lessoff, and special agents of the U.S.
Department of Education, Office of the Inspector General, under the direction of Special Agent
in Charge Brian Hickey, for the investigation leading to today's guilty plea.

The government is represented by Assistant U.S. Attorney Randall H. Cook of the United
States Attorney's Office Criminal Division in Newark.

The charges and allegations made in the Indictment against Alexander Moody and the
Complaint against Willey, Shearer, and Jackson are merely accusations, and the defendants are
considered innocent unless and until proven guilty.